India Glycols shares rise over 4% post Q4 earnings, gain after two sessions

India Glycols stock touched an intraday high of Rs 644.4, rising 4.31% against the previous close of Rs 617.80 on BSE. Earlier, it opened higher at Rs 619.95.

Updated May 25, 2023 4:33 PM IST

India Glycols shares rise over 4% post Q4 earnings, gain after two sessions

India Glycols stock is trading higher than the 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.

Shares of India Glycols Ltd rose over 4% today after the firm declared its Q4 and fiscal earnings. India Glycols stock has gained after two days of consecutive fall. India Glycols stock touched an intraday high of Rs 644.4, rising 4.31% against the previous close of Rs 617.80 on BSE. Earlier, it opened higher at Rs 619.95. Total 0.18 lakh shares changed hands amounting to a turnover of Rs 1.13 crore on BSE. Market cap of the firm rose to Rs 1961.57 crore.

The relative strength index (RSI) of stock stands at 57.2, signaling it's trading neither in the overbought nor in the oversold zone. India Glycols stock is trading higher than the 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.

The petrochemical stock has lost 28.87% in a year and fallen 17.21% this year.

In the March 2023 quarter, the firm reported a 40% fall in profit at Rs 40.32 crore against Rs 67.08 crore profit in the corresponding quarter of the previous fiscal. Sales fell 3.60% to Rs 619.34 crore in the March 2023 quarter against Rs 642.46 crore in the March 2022 quarter. However, net profit rose 31.21% on a quarter on quarter basis from Rs 30.73 crore in the December 2022 quarter. Sales too climbed 11.85% from Rs 553.70 crore in the December quarter.

In the last fiscal, sales fell 7.58% to Rs 2650 crore against sales of Rs 2868 crore in the previous fiscal. Net profit slipped 63.20% to Rs 125.08 crore in FY23 against Rs 339.85 crore in the previous fiscal.

The board of directors of India Glycols recommended a dividend of Rs 7.50/- per equity share of face value of Rs. 10/- each for the financial year ended March 31, 2023.

India Glycols manufactures green technology-based bulk, specialty and performance chemicals and natural gums, spirits, industrial gasses, sugar and nutraceuticals. The company’s segments include Bio-based Specialities and Performance Chemicals, Potable Spirits and Ennatuer Biopharma.

Also read: IRFC shares plunge after Q4 results, dividend announcement; Miniratna announces market borrowing plan

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

ABOUT THE AUTHOR

Aseem Thapliyal

A journalist with over 12 years' experience, who tracks trends in the share market and writes stock market stories. An active follower of Sensex and Nifty, I capture stocks in news and analysis by share market experts and brokerages on their outlook and price targets. I cover company news/earnings leading to a rally or crash in particular stocks or stock market indices. Also track impact of global stock markets on their Indian peers. I have worked with Live Mint and NDTV Profit in previous stints. My hobbies are exploring new places, travelling, watching movies, spending time with friends and family, watching web series, playing cricket and football. I have completed graduation from Delhi University along with a PG Diploma in journalism from IIMC. I can be reached easily via social media platforms.

Published on: May 25, 2023 4:33 PM IST

India Glycols shares rise over 4% post Q4 earnings, gain after two sessions

India Glycols stock touched an intraday high of Rs 644.4, rising 4.31% against the previous close of Rs 617.80 on BSE. Earlier, it opened higher at Rs 619.95.

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